📝 One-liners · 66 cards
DIGITISATION OF RETAIL BANKING PRODUCTS & ROLE OF AI AND TECHNOLOGY IN RETAIL BANKING & RECOVERY OF RETAIL LOANS
What is the primary regulatory framework governing digital banking operations in India?
The Reserve Bank of India regulates digital banking through the Payment and Settlement Systems Act 2007, IT Act 2000, and various RBI master directions on digital lending and payment systems.
What is a Digital Personal Loan (DPL) and how is it disbursed?
Fully online loan sanctioned and disbursed without branch visit.
What does the term 'straight-through processing' (STP) mean in the context of retail banking digitisation?
Straight-through processing refers to the automated end-to-end processing of banking transactions without manual intervention, reducing turnaround time and operational costs significantly.
What is a Loan Origination System (LOS) in retail banking?
Software platform managing end-to-end loan application and approval workflow.
🔒
Unlock 66 revision one-liners
Interactive flashcard deck — flip every card to drill questions and answers, mark the ones you got wrong, and revise smarter for DIGITISATION OF RETAIL BANKING PRODUCTS & ROLE OF AI AND TECHNOLOGY IN RETAIL BANKING & RECOVERY OF RETAIL LOANS.
🪙
Unlock cost
300 coins
30-day access · re-unlocks free for 30 days